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Russian stocks post biggest-ever slump of 45%, erase $250 billion in value
short by Kiran Khatri / on Thursday, 24 February, 2022
Russian stocks slumped as much as 45% on Thursday, their biggest-ever drop, after the country launched a military operation in Ukraine. This wiped out over $250 billion in stock market value, as per Bloomberg. Earlier, the Russian ruble also fell to its level on record. The market crash came as Western countries said they'll impose unprecedented sanctions on Russia.
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